Home Channel News NewsFax articles from January 2008

Home Channel News NewsFax archives from January 2008

Founder of Rickel Home Centers dies.(IN BRIEF)
January 28, 2008... Alvin M. Rickel, founder of Rickel Home Centers, died Jan. 15 at the age of 90. Rickel's son, Larry, called his father an "innovator" who launched some now-familiar concepts decades ago, such as the 100,000-square-foot all-in-one home...

Lowe's to open new Canada stores.(IN BRIEF)
January 28, 2008... Lowe's Canada announced it will be opening three new Ontario stores Feb. 1 in Toronto, North Brampton and East Gwillimbury. Lowe's Canada opened its first three stores Dec. 10 in South Brampton, Brantford and Hamilton, Ontario. The company...

Home Depot plans DC in southern Ohio.(IN BRIEF)
January 28, 2008... Home Depot has won approval for a $33.9 million distribution center in Monroe, Ohio. Home Depot will receive a 15-year, 80 percent tax abatement for the 657,000-square-foot facility. The distribution center is expected to supply stores in the...

Sears Holdings unveils shake-up.(NEWSMAKERS)
January 28, 2008... Sears Holdings plans a major reorganization of its internal structure, moving toward an interconnected group of independent businesses with more autonomy than is currently in place. "We are introducing an organizational structure that...

Fastenal reports a strong 2007.(NEWSMAKERS)(revenue report)(Financial report)(Brief article)
January 28, 2008... Winona, Minn.-based Fastenal, an industrial and construction supply company, reported fourth-quarter net earnings rose 23.3 percent to $56.2 million from $45.6 million last year. Net sales for the quarter were $519.2 million, up 15.7 percent...

Earnings fall at Stock, Ferguson.(NEWSMAKERS)
January 28, 2008... Wolseley, the parent company of Stock Building Supply and Ferguson Enterprises, reported a 10 percent drop in revenues for its North American division during the five-month period ending Dec. 31, 2007. Earnings for the division, which also...

Menard donates to hospitals.(EXECUTIVE NEWS)
January 28, 2008... John Menard, founder of Midwestern home improvement giant Menards, has donated $15 million to build a new emergency services department for local hospitals. Luther Midelfort Hospital in Eau Claire, Wis., also the location of Menards'...

CCA Global names new co-CEO.(EXECUTIVE NEWS)
January 28, 2008... CCA Global Partners, parent of Carpet One and Flooring America, has announced the appointment of Rick Bennet to the role of co-CEO. Bennet will serve alongside co-CEO and chairman Howard Brodsky. Bennet formerly served as president and CEO of...

HD Supply names new communications exec.(EXECUTIVE NEWS)
January 28, 2008... HD Supply, Home Depot's former pro division, has named Erica Crosling to the role of director of public relations and community affairs. Crosling will serve as the company's official spokesperson and single point of contact for media...

Lowe's CEO named RILA chairman.(EXECUTIVE NEWS)
January 28, 2008... The Retail Industry Leaders Association announced Robert A. Niblock, chairman and CEO of Lowe's Cos., as chairman of the RILA board of directors. The elections were held at RILA's Annual Leadership Forum in Naples, Fla. Niblock, who was...

NLBMDA calls for green lumber standard.(INDUSTRY NEWS)
January 28, 2008... The National Lumber and Building Materials Dealers Association (NLBMDA) is seeking to simplify chain-of-custody issues for its members through a new grade stamp on eco-friendly lumber. Through its affiliated group, the LBM Institute,...

Existing-home sales down in December.(INDUSTRY NEWS)(Brief article)
January 28, 2008... Existing-home sales declined 2.2 percent to a seasonally adjusted annual rate of 4.89 million units in December from a pace of 5 million units in November, according to the National Association of Realtors. These results, which followed...

STOCK WATCH.(Statistical table)(Brief article)
January 28, 2008... 1/25 1/18 % Chg. % Chg. Company Close Close in Week Yr. Ago Andersons 44.36 44.05 0.70 18.01 Bed Bath & Beyond 29.36 27.05 8.54 (28.09) BMHC ...

Great Northern makes acquisition.(IN BRIEF)
January 21, 2008... Great Northern Lumber, a wood products wholesaler and manufacturer, has acquired the assets of Service Lumber, an industrial hardwood distributor operating in northwest Indiana. The purchase price was not disclosed. Headquartered in Chicago,...

Wal-Mart Asia names new head.(IN BRIEF)
January 21, 2008... Wal-Mart Stores announced the appointment of Vicente Trius to executive vp, president and CEO of Wal-Mart Asia, effective Feb. 1. Trius will lead Wal-Mart's retail operations in Asia, which has units in Japan and China and more than 82,000...

NRF convention held in NYC.(IN BRIEF)
January 21, 2008... NEW YORK -- The National Retail Federation (NRF) held its annual convention and expo last week in New York, with a variety of educational programs and numerous vendors focused on store design, logistics, HR management and other retail-related...

Lowe's: now in 50 states.(NEWSMAKERS)
January 21, 2008... Lowe's officially opened the doors of its first Vermont store, in the city of Burlington, marking the retailer's entry into all 50 U.S. states. According to reports, the retailer plans to hold off on a proper grand opening celebration...

Dept. of Commerce releases 'nail dumping' report.(NEWSMAKERS)
January 21, 2008... The United States Department of Commerce announced Jan. 15 that some Chinese and United Arab Emirates (UAE) manufacturers and exporters sold certain nails in the United States at prices far below "fair value." Some Chinese nails were...

RONA acquires Best-MAR plumbing.(NEWSMAKERS)
January 21, 2008... Boucherville, Quebec-based RONA has announced the acquisition of Best-MAR Plumbing and Heating Supplies, an Ontario-based institutional, commercial and industrial (ICI) firm. The transaction has been finalized pending certain conditions,...

Sears issues sober fourth-quarter outlook.(FINANCIAL NEWS)
January 21, 2008... Sears announced declines in comparable-store sales for both its Sears and Kmart stores for the nine-week period ended Jan. 5, and offered sober guidance for the upcoming quarter. Sears domestic comp-store sales saw a 2.8 percent decline...

PPG sees record sales in fourth quarter.(FINANCIAL NEWS)(PPG Industries Inc. revenue report)(Financial report)(Brief article)
January 21, 2008... Pittsburgh-based paint and chemicals giant PPG saw fourth-quarter net income of $200 million, up 27.4 percent from $157 million in the same period last year. Net income was hit by an aftertax charge of $3 million for a recent asbestos...

Williams-Sonoma holiday sales up 4.4 percent.(FINANCIAL NEWS)(Financial report)
January 21, 2008... Williams-Sonoma, parent of specialty decor retailers Pottery Barn and West Elm, reported a 4.4 percent increase in revenues in the nine-week holiday period, to $1.02 billion from $977.8 million last year. Retail net revenues rose 3.3 percent...

Housing starts sink in December.(INDUSTRY NEWS)
January 21, 2008... The U.S. Department of Commerce reported housing starts plunged 14.2 percent in December 2007 to a seasonally adjusted annual rate of 1.006 million, compared with the November estimate of 1.173 million. Single-family starts were at...

Builder group: '50% less energy by 2020'.(INDUSTRY NEWS)
January 21, 2008... A Northern California home builders' group has begun lobbying for a new goal of reducing energy consumption of homes 50 percent by 2020. The Home Builders Association of Northern California represents around 100 builders, including KB Home,...

Stock watch.(Statistical table)(Brief article)
January 21, 2008... STOCK WATCH 1/18 1/11 % Chg. % Chg. Company Close Close in Week Yr. Ago Andersons 44.05 46.16 (4.57) 13.30 Bed Bath & Beyond 27.05 26.14 3.48...

New Menards features store-in-a-store.(IN BRIEF)
January 14, 2008... A new 240,000-square-foot Menards store opened Jan. 8 in Galesburg, Ill., according to a report in the Galesburg Register-Mail. The retailer has included several store-within-a-store concepts, such as "The Yard Barn Store," which includes...

Wal-Mart loses N.C. tax refund case.(IN BRIEF)
January 14, 2008... Bentonville, Ark.-based Wal-Mart has lost its case in North Carolina to recoup more than $30 million in tax refunds from the state. The company argued that the state had assessed its tax revenues impro p e r l y for four fiscal years ended...

Favre will stump for L&G line at Sears.(IN BRIEF)
January 14, 2008... Sears is set to become the exclusive national retailer for Snapper brand lawn and garden products this spring. Snapper's spokesman will be NFL star Brett Favre, who will introduce the new products and their availability at Sears in an ad...

Home Depot hires ILC lobbyist.(IN BRIEF)
January 14, 2008... Home Depot has hired Alpine Group, a Washington, D.C., lobbying firm, in its attempt to obtain industrial loan company (ILC) status. Wal-Mart and Home Depot have both sought ILC status, but were stymied last year when the U.S. House of...

California fines Ace for eco violations.(NEWSMAKERS)
January 14, 2008... Ace Hard w a re has been fined $850,000 by the Air Resources Board (ARB) of California for selling windshield washer fluid that failed to meet California air emissions requirements.--California's largest-ever consumer products settlement, ARB...

CCA member-owners gather in Texas.(NEWSMAKERS)
January 14, 2008... HOUSTON -- Carpet One Floor & Home, the largest floor coverings division of CCA Global Partners, kicked off its winter convention in Houston on Jan. 11, with a general session for company member-owners followed by the opening of the winter...

NLBMDA picks president.(EXECUTIVE NEWS)
January 14, 2008... The National Lumber and Building Materials Dealers Association has announced the appointment of Diane Swenson as its new president. Swenson replaces Shawn Conrad, who left the association last October. Swenson previously worked for the...

BMD names import purchasing manager.(EXECUTIVE NEWS)
January 14, 2008... Galt, Calif.-based Building Material Distributors announced the appointment of Chris Jorgensen as import purchasing manager. Jorgensen brings more than 31 years of import management to BMD. Previously, she oversaw the import of steel products...

ProBuild names vp-supply chain.(EXECUTIVE NEWS)(appointment of Paul Dodge)(Brief article)
January 14, 2008... Denver-based home builder ProBuild Holdings announced the appointment of Paul Dodge as vp-supply chain Jan 9. Dodge's previous position was senior vp-purchasing and supply management with Dallas-based Centex Homes. He was with the company for...

Weyerhaeuser announces new vp.(EXECUTIVE NEWS)
January 14, 2008... Claire Grace has been named a vp at forest products giant Weyerhaeuser, reporting to Sandy McDade, senior vp and general counsel. Grace will also continue to serve as corporate secretary and assistant general counsel--roles she has held since...

Wal-Mart picks up Tesco exec.(EXECUTIVE NEWS)
January 14, 2008... Bentonville, Ark.- based Wal-Mart announced Jan. 4 that Jack Sinclair has been named executive vp-grocery merchandise for the United States, effective Jan. 7. Sinclair will oversee the grocery business for Wal-Mart and will integrate...

KB home posts rough Q4, year.(FINANCIAL NEWS)(Financial report)
January 14, 2008... National home builder KB Home saw a net loss of $772.7 million in the fourth fiscal quart e r, a deeper loss than the $49.6 million recorded in the same period last year. Net revenue for the quarter was $2.07 billion, down 31 percent from...

Jewett-Cameron earnings up in Q1.(FINANCIAL NEWS)(Financial report)
January 14, 2008... Lumber and metal products company Jewett-Cameron Tr a d i n g reported earnings of $373,915, a 3.6 percent jump compared with last year's first-quarter earnings of $287,883. The North Plains, Ore.-based company re p o rted sales of $14.3...

Do it Best launches credit card program.(FINANCIAL NEWS)
January 14, 2008... Do it Best Corp. has partnered with Shoppers Charge Accounts Co. (SCA) to develop and administer a new private label credit c a rd program for its dealer-members throughout the United States, SCA announced. The new Do it Best credit card...

Stock watch.(Statistical table)(Brief article)
January 14, 2008... STOCK WATCH 1/11 1/4 % Chg. % Chg. Company Close Close in Week Yr. Ago Andersons 46.16 46.76 (1.28) 18.82 Bed Bath & Beyond ...

Home Depot "chips" in.(IN BRIEF)
January 7, 2008... In Georgia, Home Depot stores will participate in a statewide "Bring One for the Chipper" treerecycling program. In exchange for a Christmas tree, Home Depot stores will provide a free seedling. The program is being held in partnership with...

Former hardware store owner charged.(IN BRIEF)
January 7, 2008... The Suffolk County District Attorney's Office has charged Erik Joseph, the former owner of Seaport Hardware in South Boston, of larceny and fraud in a scheme allegedly involving his customer's credit card numbers. The 46-count indictment,...

Bed Bath & Beyond sees a rockier Q3.(IN BRIEF)
January 7, 2008... Piscataway, N.J.-based Bed Bath & Beyond has announced net earnings in the third quarter of $138.2 million, down 3 percent from $142.4 million in the same period last year. Net sales rose 10.8 percent to $1.8 billion compared with 1.62...

Pro-Build acquires Jacksonville dealer.(NEWSMAKERS)(Granger Lumber- Hardware)(Brief article)
January 7, 2008... Pro-Build Holdings has announced the acquisition of Granger Lumber- Hardware, a Do it Best dealer with two locations in Jacksonville, Fla. The purchase price was not disclosed. Founded in 1946, Granger supplies building materials,...

Ace reveals shortfall plan.(NEWSMAKERS)(Ace Hardware Corp.)(Brief article)
January 7, 2008... In a letter to Ace retailers, president and CEO Ray Griffith said the company's $152 million shortfall led to the overpayment of patronage payouts--money that retailers will, in essence, need to pay back to the company over a multiyear...

BMHC sells Aspen property.(NEWSMAKERS)
January 7, 2008... San Francisco-based Building Materials Holding Corp. (BMHC) announced that its wholly owned subsidiary, BMC West, has completed the sale of real estate used by its former building materials distribution operation in Aspen, Colo., to the City...

Former Sears chief dies at 73.(EXECUTIVE NEWS)(Obituary)
January 7, 2008... Edward A. Brennan, who served as CEO and chairman of the board for Sears, Roebuck & Co. from the mid-1980s to the mid-1990s, died at his home in Burr Ridge, Ill., following a brief illness. He was 73. Brennan became CEO of Sears in 1986, when...

ABC Supply founder dies in accident at home.(EXECUTIVE NEWS)
January 7, 2008... Ken Hendricks, founder, chairman and CEO of ABC Supply, passed away in the early morning hours of Dec. 21 after falling from a construction site at his home. Hendricks was 66 years old. The cause of death was a head injury. Hendricks died in...

Trex names new CEO.(EXECUTIVE NEWS)(appointment of Ronald Kaplan)(Brief article)
January 7, 2008... Trex, the composite decking manufacturer, has announced the appointment of Ronald Kaplan as its new president and CEO, effective Jan. 7. Kaplan, 56, was previously CEO of Continental Global Group, a manufacturer of material handling systems....

TTI to name new CEO in January.(EXECUTIVE NEWS)
January 7, 2008... Techtronic Industries (TTI), maker of the Ryobi, Ridgid and Milwaukee brands of power tools, is set to name Joseph Galli Jr. as CEO in January 2008, the company said. Galli is credited with developing Black & Decker's DeWalt brand of...

Existing-home sales on an upswing.(INDUSTRY NEWS)(Brief article)
January 7, 2008... Existing-home sales rose slightly in November, an indication the market could be stabilizing, according to the National Association of Realtors (NAR). Total existing-home sales--including single-family, townhomes, condominiums and...

New home sales plunge in November.(INDUSTRY NEWS)
January 7, 2008... New home sales fell 9 percent in November to a seasonally adjusted annual rate of 647,000--the lowest annual rate in 12 years--according to a report released by the U.S. Commerce Department. Economists had forecast November sales at an...

Stock watch.(INDUSTRY NEWS)(Statistical table)(Brief article)
January 7, 2008... company 1/4 Close 12/28 Close % Chg. % Chg. In Week Yr. Ago Andersons 46.76 45.54 2.68 17.13 Bed Bath & Beyond ...